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 Titling Your Property - Non-Dominican Republic Business Formed in Another CountryIf your business was formed in a country other than the United States or Canada, please check with a Dominican Republic Consulate General in your country about having your business documents legalized. Note: Please be aware that there are costs associated with purchasing property in the Dominican Republic with a business. In addition to the cost of setting up and registering the business in the D.R., the business will have to pay a 1% annual property tax fee until title has been transferred to the business (this will mainly affect Phase II, for which the deslinde process is ongoing). Once the business owns property, it will not have to pay the 1% annual property tax fee because the land is outside of city limits. Finally, a new law effective in 2010 will require that businesses provide monthly accounting to the government at a cost of approximately $600 per year. |
